Tag: Oklahoma City

Arena

Since Portland passed a law to help bring an MLB team, the Trail Blazers would like some more money for Moda Center

Now, the Portland Trail Blazers would like some of that money. According to OregonLive, the Blazers want an “estimated $20 million per year” to be given to them “from the state’s general fund.” The team claims that this allows them to start a $600 million renovation of the current arena. However, as OregonLive notes, the Blazers' situation is not similar to last year's MLB giveaway. The NBA team's players/staff have already been paying “into the…

William Neilson Jr.
Arena

In Oklahoma, some believe that an ownership group is proving their “commitment” to the area when they pay just 5% for a $900M new arena

In the NBA, the value of teams is rising at a rather insane pace. In 2006, the current owners of the Thunder bought the team for $350M. Now, the value of the team hovers around $3.5B. But that doesn't matter because these owners are committed to the area. Right? Some have even claimed that these owners bring a “tremendous selflessness” towards the team and city.

William Neilson Jr.
Stadium

Carolina Panthers officials swear their economic impact numbers are real, they just can’t prove it

Several weeks ago, the Carolina Panthers were given $650 million by the city of Charlotte to renovate their current NFL stadium. Nevermind that the Panthers owner has a less-than-perfect history of following through on commitments (then refuses to talk about it publicly). Nevermind that he is one of the richest men in the entire world. Maybe one of the worst owners too, but that is for another time. Anyway, since the deal was approved several…

William Neilson Jr.
Arena

Applied Economics teaches the Sacramento Kings how to polish a small turd into a large diamond

Didn't Sacramento arena critics foresee this exact issue in 2013-2014, when the deal was being discussed publicly? Why yes, they did. Not to worry, though, as “city officials…insisted it wasn’t likely” that the city would ever need to dip into their general fund since parking revenues would always cover the yearly bond payments. You see, the arena deal “protects the general fund” as arena supporters claimed in 2013.

William Neilson Jr.